Global Vascular Stents Market 2017-2021
About Vascular Stents
Vascular stents are used to treat diseases such as coronary artery diseases (CADs) peripheral artery diseases (PADs), cardiovascular diseases (CVDs), and stroke. The global vascular stents market is driven by technologically advanced and minimally invasive products. The incidence of diseases associated with vascular stents has been increasing globally, where the blood supply gets obstructed due to the deposition of calcified plaque in coronary arteries that supply blood to the heart muscles or peripheral arteries, which supply blood to the head, arms, stomach, and legs.
Technavio’s analysts forecast the global vascular stents market to grow at a CAGR of 7.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global vascular stents market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vascular Stents Market 2017-2021
Technavio recognizes the following companies as the key players in the global vascular stents market: Abbott, Boston Scientific, Cardinal Health, Cook Medical, and Medtronic.
Other Prominent Vendors in the market are: B. Braun, Biosensors International, BIOTRONIK, Fortimedix Surgical, InspireMD, lepumedical, Meril Life Sciences, MicroPort Scientific, Neovasc, SORIN GROUP, Terumo Medical, and W. L. Gore & Associates.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Technological advances in stents. The narrowing and blocking of vessels due to disease or injury can be prevented with the use of stents in coronary and peripheral procedures. The market value will increase with the advances such as biodegradable materials and bifurcated stents. The bifurcated lesions found in coronary vessels can be treated with the help of bifurcated stents. The pricing of these stents can be 30% higher than the conventional stents. The price difference is expected to reduce over time. The global vascular stents market will see a further growth with advances in bifurcated stents.”
According to the report, one of the major drivers for this market is Increasing burden of vascular diseases. The increasing burden of vascular diseases such as CAD, PAD, CVD, and neurovascular diseases will increase the patient pool. Factors such as diabetes, older population, obesity, and hypertension are the major factors leading to vascular diseases. The impact of vascular diseases can be higher in the developing nations due to low awareness among people. Many people are even not aware of the preventive measures to be taken for specific vascular diseases. The governments and vendors in developing nations are focusing on increasing the awareness among people.
Further, the report states that one of the major factors hindering the growth of this market is Stringent regulations for product approval. The Food and Drugs Administration (FDA) has set strict guidelines for the development of new products. The products should go through certain trial, testing, and validation. The process is time consuming and large amount is invested by the sponsor for the approval and launch of a product in the market. Failure at any stage of the trial can be a loss of time and money for the sponsor. Regulatory framework for vascular stents is strict. Regulatory bodies have imposed strict labeling requirement, pre-market approval, and medical device reporting and launching of product. These devices are considered to be highly-risky, and need to go through all the safety examinations to prove their medical efficacy before approval.
Abbott, Boston Scientific, Cardinal Health, Cook Medical, Medtronic, B. Braun, Biosensors International, BIOTRONIK, Fortimedix Surgical, InspireMD, lepumedical, Meril Life Sciences, MicroPort Scientific, Neovasc, SORIN GROUP, Terumo Medical, and W. L. Gore & Associates.